N.j. Company To Buy Old Site Of Nazareth Steel Fabricators

A New Jersey company is expanding its industrial operation to Nazareth by buying part of the former Nazareth Steel Fabricators. The company expects to hire 19 people.

A&B Stainless Valve and Fitting Co. of Califon, N.J., will revamp the building and may be operational in about three months, said Linda Berg, who owns the company with her husband, A. Richard Berg Jr. She said the company's employees will include machinists and laborers.

A&B will receive a $285,000 low-interest loan through the Pennsylvania Industrial Development Authority to buy and renovate the building at 540 S. Broad St., according to a news release from state Rep. Leonard Q. Gruppo.

The project's total cost is $714,000.

A&B remanufactures stainless steel and other exotic alloy valves for the chemical and petrochemical industry. The work is part of the worldwide trend toward recycling, according to the Northampton County Development Corp.

A&B was founded in June 1975 and offers technical assistance and design and modification of valves for critical service requirements.

A&B will continue to operate in Califon but will expand its remanufacturing operations to the 38,276-square-foot facility in Nazareth, according to the County Development Corp.

The amount a firm can borrow through the Industrial Development Authority is related to the number of jobs the project will create. The loan is for 15 years and carries an interest rate of 7 percent.

First Valley Bank will provide additional funds to complete the financing package, according to the County Development Corp.